As a 18 year veteran of the Mortgage and Real Estate industry, I am passionate about educating and empowering consumers. I have been writing about consumer protection issues, and making sense of complicated real estate and mortgage topics on this website since 2007

James

Hi Scott,

You’ve informed me in a separate article of yours that because I keep on paying for my fha loan even after my bk was discharged that the countdown cant start from bk but instead from the time when and if I foreclosed or short sale my house.

I have been reading a lot of your articles since I discovered it the other day and I just learned about Homepath option by reading another article today.

Now my question is since my current loan is FHA and its no longer showing on my credit report, if I apply for homepath loan, are they going to see that I still have a mortgage that I am paying on? Would they also see in maybe public records if I foreclosed or short sale? Lastly, how long after bk or foreclosure would some usually wait in order to qualify for Homepath?

Thank you so much, I really appreciate all the info I’m learning from you,

James

Yvette Robinson

HOPEFULLY, YOU CAN HELP ME BY ANSWRING A QUESTION. We are buying a Fannie Mae Homepath property. Our financing has been approved for quite some time. We dis not know till last week there is a title recording issue. Chase is the mortgage holder. We keep getting a message that the paperwork to be recorded has some errors that are being addressed in order to close next week. Are we crazy to expect this thing to actually close? The property is a beach condo in Mississippi.

Hi Yvette,
No, you’re not crazy to expect this thing to actually close. It’s not uncommon at all for there to be “last minute” scrambling and resigning when coming up on the deadline to close. Make sure you communicating with both your lender and agent and keep asking questions until you fully understand what is happening.

FindMyWayHome.com is owned and operated by Scott Schang, a NMLS Licensed mortgage loan officer in the State of California NMLS# 279893 as well as a California Real Estate Broker CalBRE#01329470. The views and opinions expressed on FindMyWayHome.com are those of the authors and do not reflect the views and opinions of any other organization or business. Find My Way Home is a Trademark of FMWH, LLC | 5640 B Telegraph Rd | St Louis MO 63129 Privacy Policy

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